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TRANSPARENCY REPORT |
Risk management
RSM UK Holdings Limited and RSM UK Audit LLP
are exposed to a broad range of risks. The effective
identification and management of risk is central to
their professional reputation and achievement of the
business objectives.
RSM UK Holdings Limited operates
a robust process for identifying
and managing risk and adopts a
combination of group-wide and
risk specific mitigation plans,
underpinned by the firm's values
and the behaviours of our people.
Responsibility for RSM UK Audit
LLP risk is devolved to and
embodied in the responsibilities of
the Audit Management Board, the
AMT and the RIs.
During 2020 the approach to risk
management considered the
impact of coronavirus on clients
and client service, quality, financial
resilience, continued operations
and ways of working, technology
and infrastructure, and people.
Incident response procedures
were implemented, led by the RSM
UK Holdings Limited's National
Leadership Team alongside the
RSM UK Audit LLP's AMT. The
response has been effective in
managing the changing risks
through 2020/21 and in our ability
to continue to meet client needs,
support home working, manage
technology risks, and protect
our people and their wellbeing.
Actions taken included closing
offices (whilst allowing access for
those who needed it outside of
enforced lockdowns); migration
to virtual working with a focus on
maintaining standards of audit
evidence and audit quality; and
RSM UK Holding Limited's CEO
leading regular communications
with all our people on our response
and the wellbeing support available
throughout the pandemic.
RISK MANAGEMENT